Qualified small businesses can use their QuickBooks data to obtain $5,000 – $100,000 from Flex Credit. Available credit replenishes as payments are made. Same day approval is common.
BlueVine said Flex Credit helps small businesses as minimum qualifications are six months in operation and at least $60,000 in annual revenue. Draws are automatically repaid over 26 fixed weekly installments and there is no penalty for early payment.
That ability to serve new businesses attracted Intuit, a representative said.
“We are always looking for the right set of lending partners to address the key needs of our small businesses,” Intuit business development director Kathy Tsitovich said. “By offering a line of credit that is available to younger businesses, BlueVine makes financing available to a group of borrowers that has historically had fewer options available to them.”